Strictly Private and Confidential Corporate Presentation November 2014
Strictly Private and Confidential Company Overview Eclipses 3-year plan is targeting a compounded Key Statistics annual growth rate in production that is among the Market Capitalization(1) 2.7 Billion highest in the peer group…
Strictly Private and Confidential Top Tier Return Potential Eclipses acreage position is located in the Utica Core and Super Rich Marcellus Plays which have demonstrated top tier returns IRRs by Play Wall Street Research(1) 80%…
Strictly Private and Confidential Premier Southern Utica and Liquids Rich Marcellus Position 85% operated acreage position in the Core of the Core of the Utica Shale ECR; 10 Wells Play Avg. 30-Day Rate 4.4 MMcfe/d Highly Rich Marcellus…
Strictly Private and Confidential Strong Single-Well Economics(1) Eclipses asset base generates strong returns even in challenging commodity price environments Rich Rich Gas Dry Gas Condensate Marcellus Condensate Identified Remaining…
Strictly Private and Confidential 2014 Activity Eclipse continues to achieve strong quarter over quarter growth Operated Producing Wells Map Operated Completed Lateral Type Curve Turn to Sales 30-Day Avg Sales Rate Identifier Well Name…
Strictly Private and Confidential 2014 D&C Activity Current D&C Activity Wells Currently in Process(1) 3 operated horizontal rigs currently running Approximately 127 gross (57 net) wells to be spud in 2014 with average lateral…
Strictly Private and Confidential Improving Operations Metrics Eclipse has drilled 51 operated Utica Shale wells to date Average drilling days reduced to approximately 16 days per well (down from original plan of 25-30 days per well)…
Strictly Private and Confidential In Process Wells Drive Production Growth(1) With wells already in progress, we will increase net producing operated well count by 250% over the next 8 months Eclipse has significant additional…
Strictly Private and Confidential Diversified Midstream Strategy Our acreage is centered across a confluence of major pipelines in the country providing significant in- and out-of-basin optionality Strategy Objective Status PA Ample…
Strictly Private and Confidential Northeast Supply/Demand Balance Significant excess out-of-basin transportation capacity to meet production growth expectations as Eclipse enters the winter of 2015 60 Northeast Supply-Demand and New…
Strictly Private and Confidential Growing Proved Reserves(1) Eclipse continues to convert unproved assets into proved reserves at an aggressive pace Net Oil (MBbl) Net NGL (MBbl) Net Gas (MMcf) Net Total (MMcfe) Net PV-10 (M) PDP 2,229…
Strictly Private and Confidential Significant Reserves and Resource Potential(1) The full development of Eclipses asset base generates approximately 4.4 billion of present value ( in millions) 941 17 1,071 4,385 952 1,003 401 Proved…
Strictly Private and Confidential Third Quarter Highlights Production Highlights Grew average daily production 104% to 85.8 MMcfe per day Exceeded the Companys previously issued guidance of 85 MMcfe per day Average daily net liquids…
Strictly Private and Confidential Capitalization Guidance Update As of September 30, 2014 in millions Cash and Cash Equivalents 255 Liquidity Borrowing Base 100 Revolving Credit Facility 0 Cash and Cash Equivalents 255 12% PIK Notes…
Strictly Private and Confidential 2015 Gas Marketing Summary Guidance Based on this analysis, we expect to realize a natural gas price of 0.76 below Henry Hub in 2015 Monthly Operated Natural Gas Basis Analysis(1) Premium to Dominion…
Strictly Private and Confidential Conclusion Core of the Core Utica position with stacked pay Highly Liquids Rich Marcellus One of the Best upside Acreage Positions Largely contiguous and concentrated acreage position in the Country…
Strictly Private and Confidential Current Hedging Position 33% of 4Q14 proved gas production is swapped at a price of 4.12/MMBtu 35% of 2015 proved gas production is swapped at a price of 4.07/MMBtu 33% of 2015 proved gas production is…
Strictly Private and Confidential Type Curve and Cost Assumptions Rich Gas Dry Gas Condensate Rich Condensate Marcellus Identified Remaining Net Drilling Locations 225 209 138 44 206 Well Characteristics (1) Initial Production (MMcf/d)…
Strictly Private and Confidential Non-GAAP Reconciliations Adjusted EBITDAX Adjusted Net Loss Three Months Ended Three Months Ended September 30, September 30, ( in thousands) 2014 ( in thousands) 2014 Net Loss (19,054) Loss Before…
Strictly Private and Confidential 3Q 2014 Realized Pricing Average Net Price (/Mcfe) 3Q14 Avg / Mcfe Price, as reported 4.52 Plus Hedges 0.08 Realized Price 4.60 Average Net Price (/Mcf) Avg Henry Hub Price 3.95 Less Differential…
Strictly Private and Confidential Highly Experienced Management Team Best in class proven management team with track record of executing a complex drilling program Years in Name Position Prior Experience Industry Benjamin Hulburt…
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